- At today's Annual General Meeting PHSC plc's Chief Executive, Stephen King will be updating shareholders as to the Group's performance for the period to end of July 2011.

He will reveal that consolidated Group sales (and other income) for the period 1 April to 31 July 2011 were £1,345,000 (£1,548,000 for the comparative period last year) with EBITDA of GBP £12,000 (GBP £35,700 for the comparative period last year).

Commenting on Group performance, CEO Stephen King said: 'This information is released ahead of today's Annual General Meeting to give shareholders an understanding of the current state of affairs. We remind investors that Group profits have historically become stronger as each year reaches its end and we believe this will continue to be the case in 2011/12.

We have seen some deterioration in trading conditions since the year-end, and are considering how best to counter the effects that this will otherwise have on revenues and profits. One decision already taken is to relocate our subsidiary Envex Company Limited from its current address in Berkshire. There will be some premises-related savings arising.

Our largest subsidiary, ALS, has a strong order book currently standing at around £800,000.

Cash at bank as at 31 July was £1,039,000 and despite payment of over £200,000 by way of dividends, if approved at today's AGM, the Group is forecast to end the year with similar cash levels

At 8:31am: [LON:PHSC] share price was 0p at 21.5p

Story provided by